Identify five common project risk strategies

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Reference no: EM13933739

Project Management Value: 30% Due date: 28-Sep-2014 Return date: 19-Oct-2014 Submission method options Alternative submission method Task This assessment item consists of two parts. Both parts must be completed in order to complete this assessment item.

Part 1  Part 1 Task Your task for this part of the assessment item is to answer the following two questions. Each question will carry equal and your answer for each question should be around 1000 words:

Identify five common project risk strategies employed to address threats that your project may face. Give an example of each. Projects are often completed late. Describe the techniques you would use as a project manager to improve the accuracy and reliability of your project schedule. In responding to the above points, be sure to: Critique project theory based on your experience and understanding.

This is important -don't just "regurgitate" the theory Provide examples, data or other relevant information to support your discussion. Examples can be from work experience, research, study group experience, for example. They should demonstrate the theoretical points you are asserting in the questions.

Part 2: Background As a consultant you have been asked by the Global Retail Solutions Group (GRS) to develop an implementable project plan for a point of sale and stock control system for a proposed chain (DSE) of retail outlets across Australia. You have been supplied the following information, information not available maybe assumed, this will be a competitive bid targeting the dual goals of quick implementation and low cost.

DSE is an aggressive player in the growing DIY electronics market with a plan to open a chain of retail outlets to further their growth in the market. Outlets will be located in major cities in seven states. The larger cities will have more than one store. Critical to sales is monitoring sales and stock turn to ensure adequate stock is available when demanded. Each store will be responsible for day-to-day operations, however, there is a strong central management structure at the national level. The services provided by the organization include volume buying to gain discounts, pricing, merchandising strategies, and consolidation of performance reporting for the corporate management. The Information Systems Department at DSE's corporate office has been given the assignment to develop a transaction processing system that will apply modern RFID code scanning at the point of sale and provide automatic inventory control. The system will also relieve the store personnel of the tedious task of generating sales and performance reports as required by the head office. An earlier project has successfully defined the store level hardware that will be used at the points of transaction plus the communications network that will connect the stores with the state offices.

This hardware consists of standard PCs plus the scanning equipment and any other specialized interface hardware needed. The communications facility consists of a polled network and will be based on dial-up lines from the head office to the individual stores. The stores have no requirement to communicate with each other. At this point in time, consider yourself a consultant who has to bid for the software development piece of the project upon which this system is based. You will have access to several DSE employees to execute the various tasks that your project proposal will guide to a successful conclusion. You have selected Microsoft Project as a software tool to assist in the development of your proposal.

Five major activities have been defined, each of which contains a number of tasks. The tasks have been defined such that each task requires only one resource. Since there is a limit to the number of resources available to the project, a resource will probably be assigned several tasks throughout the duration of the project. However, for best efficiency the team has decided that it is best to schedule the completion of one task before the next task is started by the same resource. Your project design has divided the work into sufficiently small increments that this strategy can be successfully applied. Since the software development is being done on standard platforms with standard operating environments and well-known development tools, there are no restrictions on the assignment of resources to tasks. This means that you can reassign tasks among your resource pool as required to make the most efficient schedule. From the information supplied by DSE (below) you have to develop a design for the project. Your next task is to transfer the entire design to Microsoft Project so that you can clearly establish a timeline for the project based on detailed planning and costs associated with your preferred choice including resource utilisation. A concise business proposal including outputs from Microsoft Project will be required to make your case. The project is due to begin on 01 September 2014.

Transaction processor User Interface - Driver code to display individual transaction data, including item name and price to both the customer and the operator. Richard - 3 days Peripheral Interface - Driver code to accept input data from the UPC scanner, scale and keyboard. Richard - 2 days Price Look-up - Inter-process communication to send item identification to the database and retrieve price information. Elizabeth - 3 days Order Control - Application code to accumulate item totals, accepting multiple quantities and calculating total price.

This module also assigns items by tax category and maintains a total for each tax rate. Elizabeth - 10 days Payment Resolution - Application code to accept cash and debit transfers as payment for the order total. Note: Requires communications facilities with banking network. Harry - 4 days Transaction Resolution - Application code to update inventory, accumulate sales amounts, account for taxes collected by category. Harry - 5 days Receipt Printing - Application and driver code to print itemized receipt for cash sales and authorization form for debit transactions. Richard - 4 days Price and inventory file Database Design - Schema design to include full description of each item and associated data to support price look-up and inventory management functions. Also includes tax rate by category and application of specific state tax rules. Sam - 5 days Database Access Library - Library applications that accept queries from the transaction processor and return data requested by the transaction. Includes inventory adjustment based on sale quantities. Jenny - 12 days Database Maintenance Library - Library applications that accept and apply price updates, add new items, change tax categories and update inventory status with new receipts.

Ellie - 12 days Database Report Generation - Library applications that support database search for specific input criteria for product movement studies etc. Sam - 10 days Inventory management Daily Status Report - Application code to search the database for all items that have been flagged as low stock status, sorted by supplier and displayed on a PC in the store manager's office. Elizabeth - 5 days Item History Report - An interactive query transaction to display on the manager's terminal the sales pattern for a selected item over the last two months. Jenny - 4 days Order Generation - Application code that accepts as input a specific item and returns the economic lot quantity and other pertinent vendor data. Also allow the manager to select and process an order to replenish stock. Harry - 7 days Order Communication - Application code that collects the decisions made in the Order Generation process and prepares an order for transmission to the head office. Harry - 3 days Receipt Processor - Application code that accepts input from the receiving dock via either scanner or keyboard to signal the receipt of stock. Richard - 3 days Inventory Update - Application code access the database library to update quantities in stock after receipt of shipments. Richard - 5 days Communications Banking Network Interface - Driver code to initiate connection to local transaction switch and submit account and charge amount.

Includes confirmation transaction and error recovery. Elizabeth - 7 days State Network Interface - Driver code to control incoming calls from the head office on the dial-up network. Handles automatic answer, message transfer in block mode and error recovery. Harry - 12 days Communications Command Interpreter - Application code to recognize incoming requests from the head office for various store performance reports. Jenny - 5 days Report Generator - Applications code to respond to a request from the communications interface to generate specific reports and return data as a file for sending to the state office in block mode. Each report is saved at the store and may be sent during the same communications session as the request or in a later session. Ellie - 10 days Documentation Help for Transaction Processor - Richard - 5 days, Help for Price and Inventory Modules - Jenny - 5 days Help for Inventory Management - Harry - 5 days Help for Communications - Ellie - 5 days Alpha test This test is conducted by a resource obtained from the head office. The objective is to verify that all of the functions are operational and that the results of each transaction are accurate and reliable. Barry - 20 days Developer support is provided as follows: Richard - 5 days, Jenny - 7 days, Harry - 6 days, and Ellie - 5 days Beta test This test is to be conducted by actual users in several of the retail outlets. No development resources are allocated to this test. The duration of the test is 60 days. Start roll-out This milestone marks the completion of the project. The rate at which the product is actually installed and delivered to operating personnel depends on the availability of resources and plans from the individual stores. Each of these is the possible subject of a project plan. Resource costs $/hour $/hour Richard 200 Elizabeth 100 Jenny 100 Ellie 90 Harry 100 Outside Contractors - Sam 200 Barry 100 Transfer pricing - other internal resources 120

Part 2 Task You are required to present your project plan to the project sponsor that shows how you propose to implement this project. As a minimum you should provide your plan as a business report including typical plan components such as objectives and goals, risk assessment and other elements you feel are important to support this project, and required to obtain approval from the project sponsor. You must also incorporate, as a minimum, the following specific project software outputs: project summary gantt chart cash flow/budget network diagram resource sheet, and any other content you feel is appropriate. The assignment will be marked on the basis of the sponsor's understanding of how you plan to complete this project in the most effective manner. This means value for money, timeframe, presentation, understanding of your approach and consistency and accuracy of the plan. As you prepare your report, don't forget to format the software so that reports (eg. Gantt chart) are easy to read and can be handled (ideally on 1 page) as part of a meaningful project plan. You are presenting your plan to the project sponsor who needs to understand your project plan, have confidence in you as the project manager and have the appropriate supporting documentation to back up your approach. Rationale This assessment task covers topics 1 to 9 and has been designed to ensure that you are engaging with the subject content on a regular basis. More specifically it seeks to assess your ability to: demonstrate how a practicing project manager actually applies project management skills, methods, techniques and tools ; use an industry standard project management software tool (Microsoft Project); apply project management skills, methods, techniques and tools to a real world problem typical of a project manager; Marking criteria Marks given will be dependent on the quality of the answers and the suitability and correctness of the proposed project as represented in Microsoft Office Project. This is a project management plan project NOT an IT project. CRITERIA STANDARDS HD DI CR PS FL

Part 1. Q1. Identify five common project risk strategies employed to address threats that your project may face. Give an example of each. Marks: 20 1. Comprehensive explanation of five common project risk strategies employed to address threats with suitable examples from workplace experience. (Value: 75%) 2. Referenced a wide range of sources for different antenna types and their characteristics. Referencing style correctly used. (Value: 15%) 3. Fluent writing style appropriate to the assignment with accurate grammar and spelling. (Value: 10%) 1. Mostly comprehensive explanation of five common project risk strategies employed to address threats with suitable examples. (Value: 75%) 2. Clear evidence of research relevant to different antenna types and their characteristics. Referencing style correctly used. (Value: 15%) 3. Mostly Fluent writing style appropriate to assignment with accurate grammar and spelling. (Value: 10%) 1. Mostly comprehensive explanation of four common project risk strategies employed to address threats with examples. Some omissions. (Value: 75%) 2. Clear evidence of research relevant to different antenna types and their characteristics. Referencing style correctly used. Minor omissions only. (Value: 15%) 3. Mostly fluent writing style appropriate to the assignment with mostly accurate grammar and spelling. Minor omissions only. (Value: 10%) 1. Reasonable explanation of three common project risk strategies employed to address threats with examples. Some omissions. (Value: 75%) 2. Some evidence of research. Some mistake in referencing style. (Value: 15%) 3. Writing style not always fluent or well-organised and grammar and spelling contain errors. (Value: 10%) 1. Major omissions in the explanation. (Value: 75%) 2. Either no evidence of literature being consulted or cited references irrelevant to the assignment set. (Value: 15%) 3. Writing style not fluent or well-organised, and many grammatical and spelling mistakes. (Value: 10%)

Part 1. Q2. Projects are often completed late. Describe the techniques you would use as a project manager to improve the accuracy and reliability of your project schedule. Marks: 20 1. Demonstrates breadth and depth of understanding and has insights and awareness of deeper more subtle aspects of common causes of delay in projects; good imaginative approach to improve the accuracy and reliability of project schedule (Value: 75%) 2. Referenced a wide range of sources for different antenna types and their characteristics. Referencing style correctly used. (Value: 15%) 3. Fluent writing style appropriate to the assignment with accurate grammar and spelling. (Value: 10%) 1. Demonstrates breadth and depth of understanding and has insights and awareness of many of the deeper more subtle aspects of common causes of delay in projects; imaginative approach to improve the accuracy and reliability of project schedule (Value: 75%) 2. Clear evidence of research relevant to different antenna types and their characteristics. Referencing style correctly used. (Value: 15%) 3. Mostly Fluent writing style appropriate to assignment with accurate grammar and spelling. (Value: 10%)

1. Demonstrates thorough understanding of main causes of delay in projects using the materials presented in core texts and readings; better approach to improve the accuracy and reliability of project schedule (Value: 75%)

2. Clear evidence of research relevant to different antenna types and their characteristics. Referencing style correctly used. Minor omissions only. (Value: 15%) 3. Mostly fluent writing style appropriate to the assignment with mostly accurate grammar and spelling. Minor omissions only. (Value: 10%) 1. Demonstrates evidence of having read about project schedule using material presented in core texts and readings. However adopted approach to improve the accuracy and reliability of project schedule is not presented very well. Some omissions. (Value: 75%) 2. Some evidence of research. Some mistake in referencing style. (Value: 15%)

3. Writing style not always fluent or well organised and grammar and spelling contain errors. (Value: 10%) 1. Major omissions in the explanation. (Value: 75%) 2. Either no evidence of literature being consulted or cited references irrelevant to the assignment set. (Value: 15%) 3. Writing style not fluent or well-organised, and many grammatical and spelling mistakes. (Value: 10%)

Part 2 1. Provide a plan as a business report including typical plan components such as objectives and goals, risk assessment and other elements you feel are important to support this project, and required to obtain approval from the project sponsor. Marks: 15 Comprehensive business report includes clear objectives and goals as well as consideration of risk factors and other important elements; includes clear description of all perspectives. Mostly comprehensive business report includes clear objectives and goals as well as consideration of risk factors and other important elements; includes clear description of all perspectives. Mostly comprehensive business report includes clear objectives and goals as well as some consideration of risk factors and other important elements; includes clear description of all perspectives; includes clear description of most of perspectives. Some omissions. Reasonable business report includes clear objectives and goals as well as some consideration of risk factors and other important elements; includes clear description some of the perspectives. Some omissions. Major omissions in the answer.

Part 2 2. Suitability and correctness of the proposed project as represented in Microsoft Office Project. Project outputs: project summary gantt chart cash flow/budget network diagram resource sheet, and any other content you feel is appropriate. Marks: 25 All values of project outputs are accurate and consistent such as project summary gantt chart cash flow/budget network diagram resource sheet, and any other content you feel is appropriate. Most of the values of project outputs are accurate and consistent such as project summary gantt chart cash flow/budget network diagram resource sheet, and any other content you feel is appropriate. Most of the values of project outputs are accurate and consistent such as project summary gantt chart cash flow/budget network diagram resource sheet, and any other content you feel is appropriate. Some omissions. Some values of project outputs are accurate and consistent such as project summary gantt chart cash flow/budget network diagram resource sheet, and any other content you feel is appropriate. Major omissions in the answer.

Part 2 3. Presentation and clarity (accuracy, spelling, grammar, punctuation) of assignment Marks: 10 Shows a polished and imaginative approach to complete the assignment. Very well fluent writing style appropriate to assignment with accurate grammar and spelling Carefully and logically organised approach to complete the assignment. Fluent writing style appropriate to assignment with accurate grammar and spelling Shows organisation and coherence approach to complete the assignment. Mostly fluent writing style appropriate to assignment with accurate grammar and spelling Shows some attempt to organise approach in a logical manner to complete the assignment. Writing style not always fluent or well organised, and grammar and spelling contain errors Disorganised/incoherent assignment. Writing style not fluent or well-organised, and grammar and spelling contain lots of errors

Part 2 4. Referencing and Citation Marks: 10 Referencing is consistently accurate and according to the APA standard. All references are cited in the text Referencing is mainly accurate and according to the APA standard. Most of the references are cited in the text Some attempt at referencing and not according to the APA standard. Few references are cited in the text Some attempt at referencing but not cited in the text Referencing is absent/unsystematic Total marks for part 1: 40, part 2: 60 Requirements Students are required to submit the range of documents describing their proposed project solution for the above tasks.. All referencing in the project material must be in accordance with the APA style guide.

Reference no: EM13933739

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